Orio’s net sales for the second quarter of 2019 decreased by 19 percent compared to the corresponding quarter of the previous year and amounted to MSEK 134 (165). Operating profit for the quarter was MSEK -4 (4).
For the period January to June 2019, net sales amounted to MSEK 262 (319), a decrease by 18 percent compared to the corresponding period last year. Operating profit for the period amounted to MSEK -12 (3).
After a structured winding down of the investment in spare parts for other car brands, the focus is now on Saab Original.
“In spite of a challenging termination of the all makes venture, a good gross margin was maintained in the Parts business area during the second quarter of 2019. The decline in net sales in general follows the earlier trend for Saab sales”, says Gustaf Ljunggren, CEO of Orio AB.
During the second quarter of 2019, the Logistics business area continued to focus on building up the business area following the extensive restructuring after the termination of the Opel contract. New customer contracts have been signed, existing customers’ business has been developed and the “pipeline” of potential customers is growing steadily.
Cash flow from operations for the quarter was MSEK 13 and the equity ratio per 30 June 2019 was 72 percent.